RIL Shares Decline; Jio Platforms IPO Papers Approved

New Delhi, Jun 19 (PTI) Shares of Reliance Industries ended over 1 per cent lower on Friday amid profit-taking on a day when the board of Jio Platforms Ltd, the digital and telecommunications arm of the firm, approved filing draft papers for an initial public offering.

The blue-chip stock declined 1.39 per cent to end at Rs 1,309.35 on the BSE. During the day, it lost 1.67 per cent to Rs 1,305.50.

At the NSE, the stock dipped 1.40 per cent to settle at Rs 1,309.50.

The stock fell into the negative territory post 2 pm.

The company's market valuation eroded Rs 24,891.09 crore to Rs 17,71,882.96 crore.

In the run-up to the AGM, the stock climbed 1.28 per cent this week.


The board of Jio Platforms Ltd approved filing draft papers for an initial public offering (IPO) involving a fresh issue of up to 27 crore equity shares, RIL said on Friday.

Addressing the 49th annual shareholder meeting of Reliance, Chairman and Managing Director Mukesh Ambani said the draft red herring prospectus (DRHP) was approved by the Jio Platforms board.

Jio Platforms Ltd on Friday filed the draft papers for the IPO, that is being billed as the largest ever, with a potential fundraise estimated at around USD 4 billion (about Rs 37,700 crore).

The proposed IPO comprises a fresh issue of up to 27 crore shares with a face value of Rs 10 each. The issue price will be determined through a book-building process in accordance with SEBI regulations.

Jio Platforms is a subsidiary of Reliance Industries and houses the group's telecommunications, digital services and technology businesses.

Reliance Industries currently owns 66.43 per cent stake in Jio Platforms, while Meta holds 9.99 per cent, acquired in 2020 through a USD 5.7-billion investment.

The IPO will be the first public offering from the group since 2008 and the first-ever for a consumer-focused company within the conglomerate.